(Last Updated May 13, 2022 1:43 GMT)
At the time of this writing, NZDJPY’s rate is up 2350 pips (0.29%) from the hour prior. The hourly chart shows that NZDJPY has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on NZDJPY. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
NZDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
NZDJPY is down 152 pips (1.86%) since the previous day (opening today near 80.1412164), marking the 6th straight day a decline has happened. Relative to other instruments in the Forex asset class, NZDJPY ranked 36th the previous day in terms of percentage price change. Let’s take a look at price chart of NZDJPY.
NZDJPY Technical Analysis
Notably, NZDJPY crossed below its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 and 30 day timeframes. For additional context, note that price has gone down 9 out of the past 10 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for NZDJPY; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Pair Name : GBP/JPYTime Frame : 4hrs Scale Type : Large Scale Analysis Way : Volume + Classic + High & low + Market Map Direction : / Short➕ Educational —————**-✔️ Update – VIP Opportunity ————Down + 300 PIP.Target Hit ( 3 )+ 15 % Account GrowthGood luckGBPJPY – ( Down + 300 PIP / Tp 3 > Full Tp 400 PIP )